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By creating a system that considers wins, losses and total deposits over the course of a year, it should help reduce the tax burden on low-stakes players, and those on a losing streak.

Adda52 CEO Naveen Goyal has introduced a new credit system to help online poker players in India deal with gaming tax. All VIP chip balances pokernews india be held in a special pokernews india until a player decides to convert them back to cash.

Players will still make real money deposits, but their cash will be converted to onsite credits when they buy into cash games and tournaments. By Jon Sofen. In addition to a 30 percent levy on the amount won, here additional pokernews india known as an education cess is taken from the winnings.

Learn how your comment data is processed. Players will also receive their winnings in VIP chips. Discuss all the latest poker news in the CardsChat forum. In total, the tax on lottery and gaming earnings amounts to Unlike income tax, the charge is taken directly from the source.

Name required. July this web page, Latest Poker News. July 2, Online Poker. July 3, 2. Email required. Did you know about our poker forum?

The former Strategy Editor at WPT Magazine has bluffed his way through the poker community producing feature pieces, crafting strategy articles, and reporting on daily happenings from the gaming industry. By Daniel Smyth. Leave a Comment Cancel reply Your message. Like other Indian online poker sites, Adda52 previously deducted Players can choose when to change VIP chips to cash, but they must convert their full balance. Latest News July 3, 1. By only taxing players on their net profit from all games, Adda52 is taking into account the impact of losses. This site uses Akismet to reduce spam. The benefit of the new system is that it takes into account wins and losses. However, it will give them more control over their money.